The cryptocurrency market experienced a surge on Wednesday as Bitcoin (BTC), Ethereum (ETH), Binance (BNB), Cardano (ADA), and Solana (SOL) all showed gains. According to CoinMarketCap, the global crypto market cap has reached $1.03T, a 2.12% increase from the previous day. At 6.30 a.m. IST, Coinmarketcap.com reported the news.
The crypto market observed a boost on Wednesday, with Bitcoin (BTC), Ethereum (ETH), Binance (BNB), Cardano (ADA), and Solana (SOL) all exhibiting advances. CoinMarketCap stated that the global crypto market cap has reached $1.03T, a 2.12% rise from the prior day. Coinmarketcap.com reported the news at 6.30 a.m. IST.
The largest cryptocurrency by market value, ETH, traded above $22,000 as regulators relaxed their worries over increasing regulation. BTC rose as high as 3.2% to $22,323 during New York Trading after the session had turned negative earlier. Since recent regulatory actions were revealed, Bitcoin has mostly traded below that level.
The most significant crypto by market value, ETH, traded higher than $22,000 as regulators loosened their grip. BTC surged as high as 3.2% to $22,323 in New York Trading after the session had turned negative earlier. Since recent disclosures of a series of regulatory actions, the stock has been trading below this level.
“The crypto market cap is up by 2.41% in the last 24 hours led by crypto heavyweights such as Bitcoin and Ethereum. BTC is back above the $22,000 mark and ETH surged by 3.34% and exchanging hands at $1548. The crypto market is up despite the latest CPI data suggesting inflation numbers are higher than in January 2023. The crypto market will continue to respond sharply to macroeconomic factors in the coming weeks,” Shivam ThakralBuyUcoin CEO,.
“The crypto market cap is up by 2.41% in the last 24 hours led by crypto heavyweights such as Bitcoin and Ethereum. BTC is back above the $22,000 mark and ETH surged by 3.34% and exchanging hands at $1548. The crypto market is up despite the latest CPI data suggesting inflation numbers are higher than in January 2023. The crypto market will continue to respond sharply to macroeconomic factors in the coming weeks,” Shivam ThakralBuyUcoin CEO,.
“Most cryptocurrencies rose following the US Consumer Price Index (CPI) data for January, where inflation fell less than expected. Bitcoin rebounded from the recent lows and is currently trading above the US$22,000 level. BTC’s next resistance now lies at the US$22,260 level, while the support lies at the $22,000 level,” Edul Patel, CoAttn: CEO and co-founder Mudrex.
“Most cryptocurrencies rose following the US Consumer Price Index (CPI) data for January, where inflation fell less than expected. Bitcoin rebounded from the recent lows and is currently trading above the US$22,000 level. BTC’s next resistance now lies at the US$22,260 level, while the support lies at the $22,000 level,” Edul Patel, CoAttn: CEO and co-founder Mudrex.
On On the other hand, Patel said, Ethereum In line with the previous report, it also rose above $1,500. Bitcoin. HoweverHe added that, despite some small gains, the overall momentum is slightly bearish in the market.
On On the other hand, Patel said, Ethereum In line with the previous report, it also rose above $1,500. Bitcoin. HoweverHe added that, despite some small gains, the overall momentum is slightly bearish in the market.
Cryptocurrency Prices
Meme coin Dogecoin Gained about 1.50% Binance Coin It rose by 2% Ethereum It has increased by 4.7%
Cryptocurrency Prices
Meme coin Dogecoin Gained about 1.50% Binance Coin Inflation rose by 2% Ethereum Increased by 4.7%
Solana’s (SOL) Price was up by 3.73 Percent at $21.61 Today
Solana’s (SOL) Price was up 3.73 percent at $21.61 Today
Cardano The price of the coin was up by 4.17 Percent at $ 0.4227
Cardano The price of the coin rose by 4.17 percent to $ 0.4227
Cryptocurrency prices surged on Monday, with Bitcoin trading back up to $22,000, and Ether gaining as regulatory concerns ease. Cardano (ADA) saw an increase of 7.77 percent to $0.3851, while Polygon MATIC rose 5.96 percent to $1.25.
Shawn Cruz, head trading strategist at TD Ameritrade, commented on the situation, saying, “It is interesting to me that you’re seeing crypto rally when you have the SEC continuing to crack down on a lot of these businesses. I’m not entirely certain I would expect that to remain.”
Several crypto tokens dropped earlier on Monday, with the native symbol for the Binance Exchange recording the biggest loss since the November market meltdown. The New York State Department of Financial Services directed Paxos Trust Co to stop issuing new tokens of the third largest stablecoin, BUSD, which has a circulation value of around $16 billion. The US Securities and Exchange Commission notified Paxos of a potential enforcement action. Last week, the SEC reached a settlement with Kraken.
Cryptocurrency-related stocks also surged, with Coinbase Global and MicroStrategy both up about 9%, halting a seven-day slide.
Bitcoin has been trading in tandem with stocks, especially tech firms’ shares, since the Federal Reserve began a campaign to control inflation by raising rates and decreasing liquidity. The breakdown in correlation between FTX and crypto prices was only temporary, and now both are back to normal. The S&P 500 has seen an 8% rise this year, while the tech-heavy Nasdaq 100 has advanced 15%. Bitcoin has seen a 34% increase after falling 64% in 2022.
Teong Hng, chief executive of crypto investment firm Satori Research, noted, “We have noticed that crypto markets do better during US hours. This could indicate that institutional investors might be behind the buying interest.”
